AT&T announced today that it completed its acquisition of wireless spectrum in the lower 700 MHz band B block
from Verizon Wireless that it started in January. The acquired licenses cover 42 million people in 18 states -- California, Colorado, Florida, Idaho, Illinois, Louisiana, Montana, New Mexico, New York, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wyoming.
AT&T's 4G LTE network currently covers more than 225 million people, with plans to reach nearly 270 million people by the end of 2013, and to complete the majority of the build by summer 2014. AT&T's plans to deploy 4G LTE include the areas covered by this now-completed spectrum deal.
In exchange for the 700 MHz spectrum, AT&T paid $1.9 billion in cash and transferred Advanced Wireless Services (AWS) spectrum licenses in Phoenix, AZ; Los Angeles and Fresno, CA; Albuquerque, NM; and Portland, OR.